
RBI’s surprise 50 bps rate cut lifts markets, Sensex soars over 500 points, Nifty above 24,900
Indian benchmark indices Sensex and Nifty ended higher on June 6, reversing early losses after the Reserve Bank of India (RBI) surprised markets with a larger-than-expected 50 basis points repo rate cut in its June monetary policy review. The RBI-led Monetary Policy Committee (MPC), under Governor Sanjay Malhotra, also shifted the policy stance from ‘Accommodative’…